Overseas Shipholding Group (OSG) Reports Q4 EPS of $0.61 on Revenues of $92.82M

Note: EPS may not be comparable

Overseas Shipholding Group (NYSE: OSG) reported Q4 EPS of $0.61. Revenue for the quarter came in at $92.82 million.

Highlights

• Income from continuing operations for the fourth quarter was $53.6 million, or $0.61 per diluted share, compared with income from continuing operations of $64.7 million, or $0.74 per diluted share for the fourth quarter 2016.
• Income from continuing operations for the full year 2017 was $56.0 million, or $0.64 per diluted share, compared with a loss of $1.1 million, or $0.01 per diluted share for the full year 2016.
• Shipping revenues for the fourth quarter and full year 2017 were $92.8 million and $390.4 million, down 19% and 16%, respectively, compared with the same periods in 2016. Time charter equivalent (TCE) revenues(A), a non-GAAP measure, for the fourth quarter and full year 2017 were $82.8 million and $361.0 million, down 24% and 19%, respectively, compared with the same periods in 2016.
• Fourth quarter and full year 2017 Adjusted EBITDA(B), a non-GAAP measure, was $22.7 million and $111.1 million, down 54% and 37%, respectively, from $49.9 million and $176.2 million in the same periods in 2016.
• Total cash(C), was $166.3 million as of December 31, 2017.
• Principal payment of $26.4 million plus accrued and unpaid interest of $514 thousand was made on December 27, 2017, on all of the outstanding 8.125% Notes in the fourth quarter, and as a result, the Company\'s obligations under the indenture was canceled and discharged.

For earnings history and earnings-related data on Overseas Shipholding Group (OSG) click here.

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